savin Bank account Dr
to party account.
Than
Party account Dr.
to rental income
Or
Bank account Dr.
To capital account
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Proprietor received rental income other than business, how to record in books.
Replies (6)
Quick Summary
What is the actual rent income...???
Sir,
As per the statement it is almost lakh every month.
Whether this rental income pertains to Business or Personal ?? nd if personal than is it received in the Bank account of Business please clarify
| Originally posted by : Manish sharma | ||
 |
Sir, As per the statement it is almost lakh every month. |
 |
Hello,
Is this Commercial rent or Residential rent...??
If it is personal property then no need to show in balance sheet neither in income nor in capital account
This rental income will be shown directly in income tax return
This rental income will be shown directly in income tax return
Aggreed with Altamush
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